When comparing the characteristics of common resources and artificially scarce goods,we find that:
A)they are both nonrival in consumption.
B)they are both excludable.
C)artificially scarce goods are rival in consumption (while common resources are not)and common resources are excludable (while artificially scarce goods are not).
D)common resources are rival in consumption (while artificially scarce goods are not)and artificially scarce goods are excludable (while common resources are not).

Question

Quizplus · Accepted Answer

Common resources are rival in consumption, meaning that if one person consumes the resource, it is not available for others to use. Examples of common resources include things like fish in the ocean or clean air. Artificially scarce goods, on the other hand, are not rival in consumption. This means that one person's consumption of the good does not limit the availability of the good for others. However, artificially scarce goods are excludable, meaning that it is possible to prevent someone from accessing the good if they do not pay for it. Examples of artificially scarce goods include things like digital music files or patented pharmaceutical drugs.

When Comparing the Characteristics of Common Resources and Artificially Scarce